SPGM vs. BTC-USD
SPGM (SPDR Portfolio MSCI Global Stock Market ETF) is Global Equities fund tracking the MSCI AC World IMI, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 10 years, SPGM returned 12.85%/yr vs 58.73%/yr for BTC-USD. At a 0.12 correlation, their price movements are largely independent.
Performance
SPGM vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, SPGM achieves a 10.39% return, which is significantly higher than BTC-USD's -29.30% return. Over the past 10 years, SPGM has underperformed BTC-USD with an annualized return of 12.85%, while BTC-USD has yielded a comparatively higher 58.73% annualized return.
SPGM
- 1D
- -0.15%
- 1M
- -0.20%
- YTD
- 10.39%
- 6M
- 11.12%
- 1Y
- 27.63%
- 3Y*
- 20.31%
- 5Y*
- 10.91%
- 10Y*
- 12.85%
BTC-USD
- 1D
- -1.90%
- 1M
- -24.74%
- YTD
- -29.30%
- 6M
- -33.26%
- 1Y
- -43.91%
- 3Y*
- 33.75%
- 5Y*
- 11.01%
- 10Y*
- 58.73%
SPGM vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPGM SPDR Portfolio MSCI Global Stock Market ETF | 10.39% | 23.62% | 16.75% | 21.34% | -17.53% | 21.13% | 15.28% | 26.58% | -10.12% | 23.26% |
BTC-USD Bitcoin | -29.30% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 304.57% | 94.10% | -73.37% | 1,324.24% |
Correlation
The correlation between SPGM and BTC-USD is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.39 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Sep 24, 2012 | 0.12 |
Over the past year, SPGM and BTC-USD have become more correlated (0.39) than their long-term average of 0.12, meaning their price movements have been converging.
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Return for Risk
SPGM vs. BTC-USD — Risk / Return Rank
SPGM
BTC-USD
SPGM vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio MSCI Global Stock Market ETF (SPGM) and Bitcoin (BTC-USD). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| SPGM | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.12 | ||
| Sortino ratioReturn per unit of downside risk | +4.35 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 0.84 | +0.54 |
| Calmar ratioReturn relative to maximum drawdown | 2.92 | -0.86 | +3.78 |
| Martin ratioReturn relative to average drawdown | 13.03 | -1.52 | +14.55 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPGM | BTC-USD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.09 | -1.03 | +3.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.68 | 0.20 | +0.48 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.73 | 0.86 | -0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.65 | 1.13 | -0.48 |
Drawdowns
SPGM vs. BTC-USD - Drawdown Comparison
The maximum SPGM drawdown since its inception was -33.97%, smaller than the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for SPGM and BTC-USD.
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Drawdown Indicators
| SPGM | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.97% | -85.30% | +51.33% |
Max Drawdown (1Y)Largest decline over 1 year | -9.50% | -51.21% | +41.71% |
Max Drawdown (3Y)Largest decline over 3 years | -16.90% | -51.21% | +34.31% |
Max Drawdown (5Y)Largest decline over 5 years | -25.93% | -76.67% | +50.74% |
Max Drawdown (10Y)Largest decline over 10 years | -33.97% | -83.80% | +49.83% |
Current DrawdownCurrent decline from peak | -3.05% | -50.40% | +47.35% |
Average DrawdownAverage peak-to-trough decline | -4.80% | -42.32% | +37.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.13% | 34.60% | -32.47% |
Volatility
SPGM vs. BTC-USD - Volatility Comparison
The current volatility for SPDR Portfolio MSCI Global Stock Market ETF (SPGM) is 4.52%, while Bitcoin (BTC-USD) has a volatility of 11.29%. This indicates that SPGM experiences smaller price fluctuations and is considered to be less risky than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPGM | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.52% | 11.29% | -6.77% |
Volatility (6M)Calculated over the trailing 6-month period | 10.85% | 34.48% | -23.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.26% | 35.69% | -22.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.09% | 44.74% | -28.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.59% | 56.71% | -39.12% |
Frequently Asked Questions
SPGM and BTC-USD have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTC-USD has higher volatility (11.29%) compared to SPGM (4.52%). In terms of maximum drawdown, SPGM dropped -33.97% vs BTC-USD's -85.30%.
SPGM currently has the higher Sharpe Ratio (2.09 vs -1.03), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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